<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
AMENDMENT NO. 1
TO
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
DECEMBER 10, 1998
SUITE101.COM, INC.
- -------------------------------------------------------------------------------
(Exact name of Registrant as specified in its Charter)
DELAWARE 0-25136 33-0464753
- -------------------------------------------------------------------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
Identification Number)
1122 MAINLAND STREET - SUITE 390 - VANCOUVER, BRITISH COLUMBIA, CANADA V6B 5L1
- -------------------------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (604) 682-1400
KINETIC VENTURES LTD.
- -------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS:
(b) Pro Forma financial information
Pro Forma Condensed Income Statement for the Year Ended December 31,
1997
Pro Forma Condensed Income Statement for the Nine Month Period Ended
September 30, 1998
Pro Forma Condensed Balance Sheet - September 30, 1998
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused thus report to be signed on its behalf by the
undersigned hereunto duly authorized.
Suite101.com, Inc.
Dated: May 10, 1999 By: /s/ PETER BRADSHAW
-------------------------------------
Peter Bradshaw, President
<PAGE>
PRO FORMA FINANCIAL INFORMATION
(AMENDED)
The accompanying pro forma financial information reflects the purchase by
Suite101.com Inc. (formerly Kinetic Ventures Ltd.)("Suite101") of all the issued
and outstanding shares of i5ive communications inc. ("i5ive"). The transaction
will be accounted for as a reverse purchase acquisition between i5ive as the
acquiror and Suite101 as the acquired company. The pro forma financial
information presented consists of condensed income statements for the year ended
December 31, 1997 and the nine-month period ended September 30, 1998 as if the
transaction had occurred in January 1, 1997. In addition, a pro forma balance
sheet as at September 30, 1998 is presented as if the transaction had occurred
on September 30, 1998.
PRO FORMA CONDENSED INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 1997
(UNAUDITED)
<TABLE>
<CAPTION>
Historical Statements
-------------------------------------------
Kinetic Ventures i5ive Adjustments Pro Forma
Ltd. communications (Note 1) Statement
------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Sales $345,450 $ 8,959 $(345,450) $ 8,959
Cost of Goods Sold (253,973) 0 253,973 0
Selling,General and Administration (691,894) (258,255) 691,894 (258,255)
Interest expense (67,841) 0 67,841 0
Gain on sale of assets 1,810,619 0 (1,810,619) 0
Other income 12,800 1,415 (12,800) 1,415
------------------------------------------------------------------------------
Income(Loss) Before Income Tax Expense 1,155,161 (247,881) (1,155,161) (247,881)
Income taxes (25,553) 0 25,553 0
------------------------------------------------------------------------------
Net Income (Loss) $1,129,608 $(247,881) $(1,129,608) $(247,881)
==============================================================================
Net Loss per common share(Basic and Diluted) ($0.05)
===============
Adjusted weighted average number of common shares issued (Note 2)
5,269,578
===============
</TABLE>
<PAGE>
NOTES TO THE PRO FORMA CONDENSED INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 1997
Note 1 The adjustments above reflect the removal of the historical figures
of the accounts of Kinetic Ventures Ltd. due to the reverse purchase
acquisition and the sale of Kinetic's operating assets in March 1997.
Note 2 The adjusted weighted average number of common shares issued has
been adjusted to reflect the 1:6 reverse stock split of shares.
PRO FORMA CONDENSED INCOME STATEMENT
FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 1998
(UNAUDITED)
<TABLE>
<CAPTION>
Historical Statements
----------------------------------------------
Kinetic Ventures i5ive Adjustments Pro Forma
Ltd. communications (Note 1) Statement
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Sales $ 0 $ 20,693 $ 0 $ 20,693
Selling, General and Administration (38,768) (237,795) 38,768 (237,795)
--------------------------------------------------------------------------------------------
Loss Before Income Tax Expense (38,768) (217,102) 38,768 (217,102)
Income taxes (907) 0 907 0
--------------------------------------------------------------------------------------------
Net Income (Loss) ($39,675) ($217,102) $ 39,675 ($217,102)
============================================================================================
Net Loss per common share (Basic and Diluted) ($0.02)
=================
Adjusted weighted average number of common shares issued 10,061,244
=================
</TABLE>
NOTE TO THE PRO FORMA CONDENSED INCOME STATEMENT
FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 1998
Note 1 The adjustments above reflect the removal of the historical figures
of the accounts of Kinetic Ventures Ltd. due to the reverse purchase
acquisition.
<PAGE>
PRO FORMA CONDENSED BALANCE SHEET
SEPTEMBER 30, 1998
(UNAUDITED)
<TABLE>
<CAPTION>
Historical Statements
----------------------------------------------
Kinetic Ventures i5ive Adjustments Pro Forma
Ltd. communications Statement
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ASSETS
Current
Accounts receivable $ 0 $ 4,003 $ 0 $ 4,003
Furniture and equipment 0 34,817 0 34,817
--------------------------------------------------------------------------------------------
$ 0 $ 38,820 $ 0 $ 38,820
============================================================================================
LIABILITIES
Current
Checks written in excess
of funds on deposit $ (1,032) $ 12,779 $ 11,747
Accounts payable 36,444 21,790 58,234
--------------------------------------------------------------------------------------------
35,412 34,569 0 69,981
Due to stockholders 0 490,408 (429,394)(Note 1) 61,014
Due to affiliated companies 0 69,879 (42,375)(Note 1) 27,504
--------------------------------------------------------------------------------------------
35,412 594,856 (471,769) 158,499
--------------------------------------------------------------------------------------------
STOCKHOLDERS' DEFICIT
{ (465,186)(Note 3)
{ (39,934)(Note 2)
{ 3,406 (Note 2)
Common Stock 39,934 73 { 471,769 (Note 1) 10,062
-----------------------------
{ (38,818) (Note 2)
{ (15,895,073) (Note 2)
Additional paid-in capital 15,895,073 0 { 465,186(Note 3) 426,368
-----------------------------
Deficit (15,970,419) (556,109) 15,970,419(Note 2) (556,109)
-------------------------------------------------------------------------------------------
(35,412) (556,036) 471,769 (119,679)
-------------------------------------------------------------------------------------------
$ - $ 38,820 $ - $ 38,820
===========================================================================================
</TABLE>
NOTES TO THE PRO FORMA CONDENSED BALANCE SHEET DATED SEPTEMBER 30, 1998
Note 1 This adjustment is for the conversion of $471,769 U.S on amounts due
to stockholders and affiliated companies into common shares of i5ive
communications prior to the reverse purchase acquisition.
Note 2 This adjustment reflects the reverse purchase acquisition and the
issuance of 3,405,622 shares in the transaction.
Note 3 This adjusts the capital stock of i5ive as of September 30, 1998 to
reflect the $0.001 par value of the Kinetic stock.
